Shorts are on the ropes after the last weeks rally and storage looking to be a hard fill. Earnings could be the straw that breaks the camels back. High price of gas coupled with a slimmed down CHK is making the case harder and harder for shorts.
CHK could look to have a forward 12 month PE of about 20x (Currently 12x) - putting the target price at $44 bucks per share.
Pier Group includes:
Cabot - 23x FTM PE
Anadarko - 19x FTM PE
Continental Resources - 17x FTM PE
The daily action on the stock is evidence they are covering,but they are not getting big numbers..Every time I see a large ask and it doesn't scare selling into the bid it's positive for a higher stock price and short interest is having a problem getting shares...They use to wait on a big dip,but it seems all the weak hands have played out and funds are holding in anticipation of better days.... There could be 3 things come out before earnings and right now 1 would be nice to get us over 29.00 and the other 2 next week would kill short interest.... If they beat it could get real interesting..One can only Hope that this CC is better than the last 3...
The need some serious work in the boosting of the moral corner and a more upbeat tone.... GL with the long...